New Books in Sociology cover image

Devin Fergus, “Land of the Fee: Hidden Costs and the Decline of the American Middle Class” (Oxford UP, 2018)

New Books in Sociology

CHAPTER

The Dangers of Payday Lending

This chapter explores the high risks associated with payday lending, revealing how these loans can trap consumers in a cycle of debt due to exorbitant interest rates and short repayment timelines. It uncovers the tactics employed by payday loan institutions to bypass usury laws and the role of state legislators in perpetuating these exploitative practices.

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